For this reason, now is the right time to integrate mobile payment solutions in your own shopping landscape – whether this is stationary trade or e-commerce. Because even if the market share is still only changing in the single-digit percentage range, many consumers honour user-friendly offers and even actively demand them.
Unique selling point
My experience is therefore clear: Simple payment processes can constitute added value and give you a positive unique selling point.
Many end customers like using innovative payment methods such as Apple Pay and Google Pay, which means a shop operator can definitely increase their attractiveness. However, the integration often requires technical changes, and not every e-commerce software offers simple plug and play solutions. You also need the right payment service provider, and many acquirers do not work with Apple or Google.
A successful start for mobile payment solutions in your own store is therefore only possible if the framework conditions are right.
In addition to the appropriate technology and the right payment service provider, my experience has shown that you must have the optimal selection of payment methods for your target groups up your sleeve and that these must be controlled individually using the characteristics of each customer. So, for example, the conversion rate can be greatly increased if the credit standing plays a role in the choice of payment methods. You can have much more confidence in reliable existing customers, for example, than in one-off shoppers with unclear address data. And it goes further: if you have optimized dunning and collection processes, you reduce payment defaults and at the same time increase customer satisfaction.